Stock Market Commentary: Losses acclerate
The general consensus for a short term bounce took a hit as a vulnerable market got knocked with another swathe of selling. In the case of the Nasdaq the selling still couldn't bring the index to oversold levels:

The Dow broke support of the MACD bullish divergence and added a second distribution day for the year. The Dow has seen six down days in a row and is flirting with early December lows.

The semiconductor index also took a hit as it lost the last vestiges of short term support.

Any bounce here will only define the upper boundary of a downward channel retest of November lows.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website
The Dow broke support of the MACD bullish divergence and added a second distribution day for the year. The Dow has seen six down days in a row and is flirting with early December lows.
The semiconductor index also took a hit as it lost the last vestiges of short term support.
Any bounce here will only define the upper boundary of a downward channel retest of November lows.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website